QUAKER CHEMICAL CORP — Director's Dealing 2018

May 23, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: QUAKER CHEMICAL CORP (KWR)
CIK: 0000081362
Period of Report: 2018-05-21

Reporting Person: BENOLIEL D JEFFRY (VP - MW, Can and Mining)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-04-13	Common Stock	G	750	$0.00	Disposed	11671	Direct
2018-04-18	Common Stock	G	20	$0.00	Acquired	10620	Indirect
2018-04-18	Common Stock	G	20	$0.00	Acquired	10620	Indirect
2018-05-07	Common Stock	G	140	$0.00	Disposed	11531	Direct
2018-05-21	Common Stock	M	1472	$73.47	Acquired	13003	Direct
2018-05-21	Common Stock	S	1472	$157.0075	Disposed	11531	Direct
2018-05-21	Common Stock	M	1488	$87.30	Acquired	13019	Direct
2018-05-21	Common Stock	S	1488	$157.0117	Disposed	11531	Direct
2018-05-21	Common Stock	M	2426	$72.12	Acquired	13957	Direct
2018-05-21	Common Stock	S	2426	$157.0042	Disposed	11531	Direct
2018-05-21	Common Stock	M	730	$134.60	Acquired	12261	Direct
2018-05-21	Common Stock	S	730	$157.00	Disposed	11531	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2018-05-21	Employee Stock Option (right to buy)	$73.47	M	1472	Disposed	2021-02-27	Common Stock (1472)	Direct
2018-05-21	Employee Stock Option (right to buy)	$87.30	M	1488	Disposed	2022-02-25	Common Stock (1488)	Direct
2018-05-21	Employee Stock Option (right to buy)	$72.12	M	2426	Disposed	2023-02-23	Common Stock (2426)	Direct
2018-05-21	Employee Stock Option (right to buy)	$134.60	M	730	Disposed	2024-02-27	Common Stock (730)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	10600	Indirect
Common Stock	10000	Indirect
Common Stock	9732	Indirect
Common Stock	17020	Indirect
Common Stock	10451	Indirect

Footnotes

F1: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $157.00 to $157.0950, inclusive. The reporting person undertakes to provide to Quaker Chemical Corporation ("Quaker"), any security holder of Quaker, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (1) to this Form 4.

F2: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $157.00 to $157.0650, inclusive. The reporting person undertakes to provide to Quaker Chemical Corporation ("Quaker"), any security holder of Quaker, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (2) to this Form 4.

F3: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $157.00 to $157.0550, inclusive. The reporting person undertakes to provide to Quaker Chemical Corporation ("Quaker"), any security holder of Quaker, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (3) to this Form 4.

F4: Information based on reporting person's Plan Statement as of March 31, 2018.

F5: The options for this grant vested in three annual installments: 737 shares on February 27, 2015; 736 shares on February 27, 2016; and 736 shares on February 27, 2017.

F6: The options for this grant vested in three annual installments: 745 shares on February 25, 2016; 744 shares on February 25, 2017; and 744 shares on February 25, 2018.

F7: The options for this grant vest in three annual installments: 1,213 shares on February 23, 2017; 1,213 shares on February 23, 2018; and 1,213 shares on February 23, 2019.

F8: The options for this grant vest in three annual installments: 730 shares on February 27, 2018; 729 shares on February 27, 2019; and 729 shares on February 27, 2020.